Central Banking

Bahrain completes transition to Iban

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The Central Bank of Bahrain on January 31 announced it had completed the switch to international bank account numbers (Iban), bringing the country in line with international standards for electronic payments.

As of January 31, 2012, retail banks and customers in Bahrain are required to use Iban to make all domestic and cross-border electronic payments to Iban-compliant countries. The central bank said the implementation of Iban is an initiative of the Bahrain Economic Vision 2030 to improve the

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